Wednesday, September 21, 2016
Video - Nigeria drops from fourth to seventh largest cocoa producer
Nigeria's Cocoa Association has confirmed that the country has dropped to the world's seventh top producer of the crop. This is after its projected output for the 2015-2016 season was lowered to 190,000 metric tons. The International Cocoa Organization had previously ranked Nigeria as the world's fourth biggest cocoa producer. The downgrade was attributed to the exchange rate policy, the lack of reliable data and low synergy between the public and private sectors. The ICCO had initially projected Nigeria would produce 270,000 metric tons of cocoa in the current season.